Business / Economy

The global impact of China's 13th Five-Year Plan

(Xinhua) Updated: 2016-03-10 17:22

China will be the leading source of global growth in the coming five years, thanks to an expanding market, ample capital and more commodities, he said.

Further opening-up

"China has almost fully integrated into the world chain of industry, value and logistics, and further opening-up will produce more fruits for both China and the world," said Zhou Hanmin, a national political advisor and law expert based in Shanghai.

The draft states that China will continue opening-up, in part driven by the Belt and Road Initiative. Strategic mutual-trust, economic cooperation and people-to-people exchanges with other countries will also be pursued.

Analysts say local government officials and companies are already engaged in cross-border economic corridors with Mongolia, Russia, Pakistan, Myanmar and other southeastern Asian countries.

Zhang Yupu, Communist Party of China secretary of Mudanjiang city, Heilongjiang province, said cooperative projects are being developed along its border with Russia.

Wisdom, responsibility

The Five-Year Plan also presents China's approach to global governance. According to the plan draft, China will actively participate in global economic governance, support major global and regional governance and cooperation platforms, and contribute to a fair and reasonable global governance mechanism.

Analysts say China will prioritize mutual development and building global partnership.

China will host the G20 summit in September, which will offer Chinese leaders the opportunity to explain the diplomatic policy in this regard.

Jia Qingguo, an international relations expert in Peking University, said that China will contribute more to world economic growth, and cement its place in global economic governance and the international economic order.

"China will bear its share of responsibilities, spread messages of common understanding, while sharing opportunities, said Zheng Changzhong, associate professor in international diplomacy at Fudan University.

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